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South Korea's investment in research and development of information and
communication technology (ICT) ranks the second highest among major global
economics, data showed Sunday.
According to the data by the
Organization for Economic Cooperation and Development (OECD), South Korea's
spending on ICT research and development nears 1.5 percent of its gross domestic
product (GDP).
The figure was the second highest among member nations
of the Paris-based club of major economies, trailing only Finland's 1.62
percent.
Investment by the manufacturing sector, which includes tech
behemoth Samsung Electronics Co., accounts for 1.36 percent of South Korea's
GDP, with the software industry taking up the remainder, according to the
data.
Investment in research and development by South Korea's ICT
industry made up 53.1 percent of the country's total research and development
expenditures, ranking fourth among major economies, the data showed.